Question
Suppose a firm has 16.5 million shares of common stock outstanding and six candidates are up for election to four seats on the board of
Suppose a firm has 16.5 million shares of common stock outstanding and six candidates are up for election to four seats on the board of directors.
| a. | If the firm uses cumulative voting to elect its board, what is the minimum number of votes needed to ensure election of one member to the board? |
| Minimum number of votes |
| b. | If the firm uses straight voting to elect its board, what is the minimum number of votes needed to ensure election of one member to the board? |
| Minimum number of votes |
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Personal Finance An Integrated Approach
Authors: Bernard J. Winger
4th Edition
0198520972, 9780132696302
